24 May 2006
The international media organisation Reuters is going to pay an
extra £236m into its two final salary pension schemes over
the next two years. The company has taken the decision to help
eliminate a pension deficit calculated last year at
£265m.
Reuters will also adopt a less risky investment strategy for the
schemes, in the hope that the moves will prevent a deficit in the
future. The deal comes after protracted negotiations with the
scheme trustees. The two final salary schemes operated by Reuters
were closed to new members in 1999. Since then, all new recruits
joining the company have been able to join a money purchase
"defined contribution" scheme instead.
